Question: Select financial statement data for two recent years for Davenport Company are as follows: a. Determine the fixed asset turnover ratio for 20Y4 and 20Y5.

Select financial statement data for two recent years for Davenport Company are as follows:

20Y5 20Y4 Sales $1,668,000 $1,125,000 Fixed assets: Beginning of year End of

a. Determine the fixed asset turnover ratio for 20Y4 and 20Y5.

b. Does the change in the fixed asset turnover ratio from 20Y4 to 20Y5 indicate a favorable or an unfavorable change?

20Y5 20Y4 Sales $1,668,000 $1,125,000 Fixed assets: Beginning of year End of year 670,000 720,000 580,000 670,000

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